jobs

do cpa firms need management or leadership?

by bill reeb and dominic cingoranelli

let’s start out with a straightforward question. what is the difference between management and leadership?

more on performance management: 8 ways to manage clients | the limitations of rainmakers | firms only grow when partners play their roles | the four basic parts of cpa firm partner agreements | younger partners see succession differently | how to compensate your managing partner | the job of managing partner: empowered or emasculated? | how the best managing partners turn ideas into reality
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from one point of view, leadership is far different than management.
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8 ways to manage clients

october 18, 2016

this is job 1 for the practice owner.

by bill reeb and dominic cingoranelli

whether you simply desire to improve your firm’s operations or identify and implement a new long-term strategy, you need to be clear about the role that the owners, partners or shareholders should be playing in your firm.

more on performance management: the limitations of rainmakers | different roles for different partners | how big ‘books’ hurt firms | developing a three-year vision [video] | more merger questions than you imagined | mps: how to elect them … and fire them | partners as role models: the good, bad & ugly | managing the managing partner
exclusively for pro members. log in here or 2022世界杯足球排名 today.

to be sure, the roles and responsibilities of a cpa firm owner or owners will vary from firm to firm, based on that firm’s needs and circumstances, and you need to adapt any recommendations to fit your firm’s situation.
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the limitations of rainmakers

october 11, 2016

why marketing has to permeate the firm and the process.

for most firms, new business comes in through referral. therefore, the bigger a partner’s client base, the more likely that partner will bring in new business – which simply means that the more clients a partner knows, the more referrals that partner is likely to receive (not in percentage, but in raw numbers).

more on performance management: different roles for different partners | dealing with a-d clients (you know who we mean) | how small ‘books’ hurt firms | why the partner agreement matters | merging for the wrong reasons | how to implement strategy, step by step | accountability requires clear expectations | how retirement issues affect succession planning | how partner ratings factor into equity
exclusively for pro members. log in here or 2022世界杯足球排名 today.

other drivers of referral success are long-standing service (seniority) and position in the firm (such being one of the named or senior partners). in these cases, there is an extended opportunity for referral simply because:
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new report: the cpa shortage approaches a tipping point

october 10, 2016

how savvy cpa firms are fighting back.

by 卡塔尔世界杯常规比赛时间 research

a new state cpa society report on the dwindling number of college graduates who are pursuing cpa credentials underscores an issue that’s already being confronted by some forward-thinking accounting firms.

the statistics are daunting:

nearly half of college accounting majors never sit for the cpa exam.
a third of those who take the cpa exam never complete it.
on average, it takes 6.5 attempts for candidates to pass all four parts.
only 27 percent of test-takers finish all four parts on the first try.
75 percent of current cpas are projected to retire within the next 15 years.

todd shapiro, the illinois cpa society president and chief executive, calls the stagnating cpa pipeline “a threat that will only get worse and grow more troubling without action because there’s no slowdown in sight for accounting talent demand.”

cpa salaries projected to advance 3.7% in 2017

october 9, 2016

excerpt from new robert half salary guide

firms jockey for best recruits.

by 卡塔尔世界杯常规比赛时间 research

cpa firms should be braced to pay more and further improve their workplace offering perks to attract top talent, according to staffing firm robert half international.

the already hot market for hiring is stoked to get even more heated with rhi predicting that starting salaries for accounting and finance professionals will increase by an average 3.7 percent in 2017. that’s the second highest level of pay hikes projected for all major professional employment sectors nationwide, trailing only the white-hot technology sector, where it sees average starting pays rising 3.8 percent.

the menlo park, calif., firm warns that “competition for top talent can be fierce,” and notes that many firms are already increasing salaries and bonuses to be tops in their local market areas or business niches. “with skilled professionals in high demand and short supply, more employers are willing to negotiate compensation with potential hires,” said paul mcdonald, senior executive director at rhi.

jobs report: hiring up. wages down.

october 7, 2016

hourly earnings drop everywhere.

by 卡塔尔世界杯常规比赛时间

maybe it’s the restlessness that comes with the shift from summer to fall. employment figures were up and down all over the place, according to new 卡塔尔世界杯常规比赛时间 research.

more on staffing and careers: two ways your strategic plan can reduce turnover | the three gears that drive success in the accounting business | how to pay non-equity partners | get staff to take ownership of work | the 44-point staff performance evaluation checklist | when staff accountants don’t want to supervise | chris allegretti makes retention a top priority at hbk | randy myeroff at cohen & co.: winning the youth movement | how can we keep new staff longer? |
exclusively for pro members. log in here or 2022世界杯足球排名 today.

still, the industry as a whole hit a new high. and women are making huge gains – in accounting overall, in cpa firms and especially in payroll, where their jump from a year ago is an astonishing 16.2 percent.

in this report, 卡塔尔世界杯常规比赛时间 highlights:

current hiring trends in each of the bookkeeping, payroll, tax and cpa segments of the industry.
average hourly wages for key segments.
typical hours worked per week, and
trends concerning women in the accounting workforce.

different roles for different partners

october 4, 2016

some people should stick to technical roles, but there’s an impact on profitability.

by bill reeb and dominic cingoranelli

when you are a client relationship partner, regardless of your technical specialty, you take on the role of being that client’s general contractor for professional services – that is, his or her most trusted business advisor.

more on performance management: dealing with a-d clients (you know who we mean) | firms only grow when partners play their roles | the four basic parts of cpa firm partner agreements | younger partners see succession differently | how to compensate your managing partner | the job of managing partner: empowered or emasculated? | how the best managing partners turn ideas into reality
exclusively for pro members. log in here or 2022世界杯足球排名 today.

if you are unwilling to fulfill this role, then you shouldn’t be a client relationship manager; you should be a technical partner. we define these two roles broadly as follows:
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women, tax prep see workforce growth

september 20, 2016

sorry, payroll. life remains tough for you folks.

by 卡塔尔世界杯常规比赛时间

the tax preparation sector of the industry is adding employees. hmm, why could that be?

payroll continues its swings, with numbers and hours up while earnings are down. women continue to see gains both overall and in cpa firms, while their numbers in payroll increased by double digits.

exclusively for pro members. log in here or 2022世界杯足球排名 today.

in this report, 卡塔尔世界杯常规比赛时间 highlights:

current hiring trends in each of the bookkeeping, payroll, tax and cpa segments of the industry
average hourly wages for key segments
typical hours worked per week, and
trends concerning women in the accounting workforce

firms only grow when partners play their roles

september 20, 2016

how often are you seeing your clients?

whether you simply desire to improve your firm’s operations, or identify and implement a new long-term strategy, you need to be clear about the role that the owner(s), partners or shareholders should be playing in your firm.

more on performance management: how big ‘books’ hurt firms | how small ‘books’ hurt firms | why the partner agreement matters | merging for the wrong reasons | accountability includes partners | 7 succession questions to ignore for now | develop your employees or suffer the consequences
exclusively for pro members. log in here or 2022世界杯足球排名 today.

the roles and responsibilities we’ve suggested are based on the best practices we’ve had the opportunity to observe and be involved with in our work with cpa firms throughout north america.
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how big ‘books’ hurt firms

september 13, 2016

the invisible hazards of book of business.

as we stated in our last column, balancing “book of business” is one of the largest stumbling blocks for cpa firms.

more on performance management: how small ‘books’ hurt firms | the four basic parts of cpa firm partner agreements | younger partners see succession differently | how to compensate your managing partner | the job of managing partner: empowered or emasculated? | how the best managing partners turn ideas into reality | make accountability a process | accountability requires clear expectations | base retirement on today’s operations | how involved should retired owners be? | how to find a partner’s replacement
exclusively for pro members. log in here or 2022世界杯足球排名 today.

it is difficult to resolve because it is symptomatic, for most firms, of some real trouble brewing.
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how small ‘books’ hurt firms

september 6, 2016

leverage, capacity and overservice are just some of the issues.

balancing “book of business” is one of the largest stumbling blocks for cpa firms. it is difficult to resolve because it is symptomatic, for most firms, of some real trouble brewing.

more on performance management: the four basic parts of cpa firm partner agreements | developing a three-year vision [video] | mps: how to elect them … and fire them | managing the managing partner | accountability is for everyone | firms say what would change retirement pay | how retirement issues affect succession planning | develop your employees or suffer the consequences | job 1 for the practice owner: client management
exclusively for pro members. log in here or 2022世界杯足球排名 today.

optimal book size

the optimum condition for firms to flourish is for books of business to be balanced throughout the firm. from the largest book to the smallest, the percentage gap between them should be fairly small (about 20-25 percent or less than a couple hundred thousand in fees).
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when partners leave: what to do today, to be prepared for tomorrow

august 30, 2016

set policies now based on business, not emotion.